I’m James P. DeVellis, and I believe that one of the driving factors that make humanity move forward is technology. Without the advancement and evolution of tech, we wouldn’t have the convenience of travel, healthcare, communication, and all the other things that make us the civilization we are today. While it’s true that in some places of the world, communities have rejected technology, in most other areas, tech is being utilized in ways that simply blow our minds.
For this James P. DeVellis blog, however, I want to share just how technology helps business owners and their companies grow and develop. But first, I want to say that it’s a bleeding shame how so many company owners don’t even so much as consider technology when putting up a company in their quest to cut costs.
A friend of mine, who’s a finance expert and who also owns a small business back in our neighborhood once said that while cutting costs is important in business, it shouldn’t be more important than expansion. This is why so many business owners who dare to dream big pull out loans and invest in things that would help their company expand. At the top of these things is technology.
Take for instance two competing independent fast food restaurants (X and Y) in the community. They both have the same amount of staff, same menu, same everything. After two years in operation, both restaurants prosper and are still in business. However, the owners of fast food resto X decide to invest in more expensive equipment in the kitchen and online access delivery. Fast food resto Y’s owners are a bit more traditional and decide to keep things as is.
What happens is fast food resto X doubles their output, cooks food more efficiently, lowers their prices, and gets more patrons. And sadly, many of these patrons come from fast food resto Y.
And this is just one of the countless scenarios wherein technology helps a business. So, if you’re a business owner, at the very least, consider investing in new tech for your business.
Tags: tech, business, technology, good investment